MidWestOne Financial Group, Inc. (MOFG)

MOFG Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	236.2	202.18	148.28	141.04	158.66	163.16
Interest Income on Investments	45.19	47.43	48.48	35.73	26.13	19.28
Total Interest Income	281.39	249.61	196.76	176.77	184.79	182.44
Interest Paid on Deposits	112.99	85.76	20.25	13.2	23.92	29.93
Interest Paid on Borrowings	27.25	19.68	10.16	7.29	7.9	8.86
Total Interest Expense	140.24	105.44	30.4	20.49	31.82	38.79
Net Interest Income	141.16	144.17	166.36	156.28	152.96	143.65
Net Interest Income Growth (YoY)	-9.03%	-13.34%	6.45%	2.17%	6.48%	36.46%
Trust Income	13.61	12.25	11.22	11.68	9.63	8.04
Gain (Loss) on Sale of Assets	-	-	-	-	-	1.08
Gain (Loss) on Sale of Investments	-145.81	-18.79	0.27	0.24	0.18	0.09
Other Non-Interest Income	36.98	24.96	36.03	30.54	28.8	22.04
Total Non-Interest Income	-95.22	18.42	47.52	42.45	38.62	31.25
Non-Interest Income Growth (YoY)	-	-61.23%	11.93%	9.92%	23.60%	34.59%
Revenues Before Loan Losses	45.94	162.6	213.88	198.73	191.58	174.9
Provision for Loan Losses	9.26	5.85	4.49	-7.34	28.37	7.16
Revenue	36.68	156.75	209.39	206.07	163.22	167.74
Revenue Growth (YoY)	-79.01%	-25.14%	1.61%	26.26%	-2.70%	38.42%
Salaries and Employee Benefits	77.25	73.94	73.39	65.78	63.82	57.57
Occupancy Expenses	8.7	8.82	9.05	7.97	7.86	7.31
Federal Deposit Insurance	3.82	3.29	1.66	1.57	1.86	0.69
Amortization of Goodwill & Intangibles	6.14	6.25	6.07	5.36	6.98	5.91
Selling, General & Administrative	29.59	30.2	32.12	28.87	28.95	26.49
Other Non-Interest Expense	10.34	9.01	8.32	6.58	8.71	9.86
Total Non-Interest Expense	136.71	131.52	130.59	116.37	118.33	108.41
EBT Excluding Unusual Items	-100.03	25.23	78.8	89.7	44.88	59.33
Pretax Income	-102.58	24.83	76.6	89.48	13.32	50.2
Income Tax Expense	-28.69	3.97	15.76	19.99	6.7	6.57
Net Income	-73.89	20.86	60.84	69.49	6.62	43.63
Net Income to Common	-73.89	20.86	60.84	69.49	6.62	43.63
Net Income Growth	-	-65.71%	-12.45%	949.16%	-84.82%	43.75%
Basic Shares Outstanding	16	16	16	16	16	15
Diluted Shares Outstanding	16	16	16	16	16	15
Shares Change (YoY)	0.28%	0.15%	-1.29%	-1.27%	8.23%	21.64%
EPS (Basic)	-4.69	1.33	3.89	4.38	0.41	2.93
EPS (Diluted)	-4.69	1.33	3.87	4.37	0.41	2.93
EPS Growth	-	-65.63%	-11.44%	965.86%	-86.01%	18.15%
Dividend Per Share	0.970	0.970	0.950	0.900	0.880	0.810
Dividend Growth	0.52%	2.11%	5.56%	2.27%	8.64%	3.85%
Effective Tax Rate	-	16.00%	20.58%	22.34%	50.29%	13.09%

Source: S&P Capital IQ. Banks template. Financial Sources.